Bank of Africa Uganda Limited explained

Bank of Africa Uganda Limited
Type:Private: Subsidiary of Bank of Africa Group
Location:Lugogo One Building
23 Lugogo Bypass
Kampala, Uganda
Key People:George William Egaddu
Chairman
Arthur Isiko
Managing Director
Num Employees:700+ (2024)
Assets:UGX:1,100 billion (US$285.5 million) (H1 2023)[1]
Revenue:Aftertax:UGX:11.638 billion (US$3.02 million) (H1 2023)
Industry:Financial services
Products:Loans, savings, investments, debit cards, credit cards, mortgages

Bank of Africa Uganda Limited, also known as BOA Uganda (BOAU), is one of the commercial banks in Uganda that have been licensed by the Bank of Uganda, the country's central bank and national banking regulator.[2]

Location

The headquarters and main branch of Bank of Africa Uganda Limited, are located at Lugogo One Building, 23 Lugogo Bypass, in the central business district of Kampala, Uganda's capital and largest city.[3]

Overview

BOA Uganda is involved in all aspects of commercial banking although its focus is on providing banking services to multinational companies, mid-size local enterprises, and small retail businesses. As of June 2023, BOA Uganda was a medium-sized financial services provider, with total assets of UGX:1,100 billion (approximately US$285.5 million), with shareholders' equity of UGX:177.688 billion (approximately US$46.11 million).[1]

Bank of Africa Group

The bank is a member of the Bank of Africa Group, a multinational, Pan African bank headquartered in Casablanca, Morocco, with presence in 20 countries. The group also maintains an office in Paris, France. As of December 2022, the group employed more than 6,500 employees and had a total asset base in excess of €10.2 billion.[4]

History

BOA Uganda started its operations in 1984 as Sembule Investment Bank (SIB). In 1996, SIB was purchased by Banque Belgolaise and the Netherlands Development Finance Company. The new owners renamed the bank Allied Bank. In October 2006, Banque Belgolaise sold its shares to investors that included the Bank of Africa (Kenya),[5] Aureos East Africa Fund LLC,[6] and Central Holdings (Uganda) Limited. The name of the bank was changed to Bank of Africa (Uganda) Limited.[7]

Ownership

The share ownership of BOA Uganda as of 31 December 2022 was as illustrated in the table below:[8]

Bank of Africa Stock Ownership
Rank Name of OwnerPercentage Ownership
1
2
3 Central Holdings Uganda Limited
Total

Source:

Governance

The bank is supervised by a nine-person board of directors, chaired by George William Egaddu, a non-executive board member.[9]

Management team

In December 2010, Edigold Monday was appointed managing director of the bank. She became the first indigenous woman to rise to this level at a Ugandan commercial bank.[10] In April 2014, Monday resigned.[11] Arthur Isiko was appointed to replace her.[12]

Branch network

As of, the bank maintained branches in all regions of the country, including at the following locations:[13]

  1. Main Branch: One Lugogo Building, 3 Lugogo Bypass, Kampala[3]
  2. Ndeeba Branch: 1024 Masaka Road, Ndeeba
  3. Taxi Park Branch: Mukwano Centre, 40-46 Ben Kiwanuka Street, Kampala
  4. Kampala Road Branch: 48 Kampala Road, Kampala
  5. Ntinda Branch: 49 Ntinda Road, Ntinda, Kampala
  6. Wandegeya Branch: KM Plaza, 85 Bombo Road, Wandegeya, Kampala
  7. Entebbe Branch: 16 Kampala Road, Entebbe
  8. Nakivubo Branch: 15 Nakivubo Road, Kampala
  9. Mukono Branch: 13 Kampala Road, Mukono
  10. Kabalagala Branch: 559 Ggaba Road, Kabalagala, Kampala
  11. Oasis Branch: Oasis Mall, 88-94 Yusuf Lule Road, Kampala
  12. Jinja Main Branch: 1 Main Street, Jinja
  13. Clive Road Branch: 18 Clive Road East, Jinja
  14. Arua Branch: 19 Avenue Road, Arua
  15. Lira Branch: 1A Balla Road, Lira
  16. Mbarara Branch: 1 Mbaguta Road, Mbarara
  17. Mbale Branch: 26 Cathedral Avenue, Mbale
  18. Fort Portal Branch: 14 Bwamba Road, Fort Portal
  19. Gulu Branch: 11 Awere Road, Gulu
  20. Kololo Branch: 9 Cooper Road, Kisementi, Kololo, Kampala
  21. Kawempe Branch: 125 Bombo Road, Kawempe, Kampala
  22. Nansana Branch: 5390 Nansana Town Centre, Nansana
  23. Luzira Branch: 1329/1330 Port Bell Road, Luzira, Kampala
  24. Hoima Branch: 13 Wright Road, Hoima
  25. Nateete Branch: 1-2 Old Masaka Road, Nateete, Kampala
  26. Patongo Branch - 33 Dollo Road, Patongo
  27. Bbira Mini Branch: 2731 Mityana Road, Bbira, Wakiso District
  28. Namasuba Branch: Freedom City Mall, 4010 Entebbe Road, Namasuba, Kampala
  29. Kalongo Mini Branch: 16 Patongo Road Kalongo
  30. Business Centre - 9 Kittante Road, Kampala
  31. Rwenzori Mini Branch: Rwenzori House, 1 Lumumba Avenue, Nakasero, Kampala
  32. Masaka Branch: 7 Birch Avenue, Masaka[14]
  33. Rubirizi Branch: Mbarara-Kasese Highway, Rubirizi.

In addition to the brick-and-mortar branches, the bank has a mobile banking vehicle covering nine districts and key tradingcentres in the districts of Lira, Pader, Oyam, Lira, Kole, Apac, Dokolo, Kaberamaido, Alebtong, and Otuke.[15]

See also

External links

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Notes and References

  1. Web site: Bank of Africa Uganda: Half Year Financial Statements For The Six Months Ended 30 June 2023 . Bank of Africa Uganda Limited . 19 February 2024 . Bank of Africa Uganda Limited . 19 February 2024 . Kampala.
  2. Web site: . 31 March 2023 . List of licensed Commercial Banks as at 31 March 2023 . 20 February 2024 . Bank of Uganda . Kampala, Uganda.
  3. Web site: 7 February 2024 . Bank of Africa Uganda Launches New Head Office in Kampala . ChimpReports . Stuart Ampaire . 19 February 2024 . Kampala, Uganda.
  4. Web site: 20 February 2024 . Who We Are . . 20 February 2024 . Bank of Africa Group . Casablanca, Morocco.
  5. Web site: 24 May 2018 . Chronology of disposal of banking activities . 23 October 2006 . Belgolaise . Belgolaise . Brussels.
  6. Web site: Jacob Kholi . Managing Partner . Aureos West Africa . Aureos Capital . Aureos.com . 18 December 2012 . https://web.archive.org/web/20121010094755/http://aureos.com/region/africa . 10 October 2012 . dead .
  7. Web site: About Bank of Africa Uganda Limited . 24 May 2018 . 24 May 2018 . Bank of Africa Uganda . Arthur . Isiko . Kampala . https://web.archive.org/web/20180530092520/http://www.boauganda.com/about-us.html . 30 May 2018 . dead .
  8. Web site: Bank of Africa Uganda: Annual Report For The Year Ended 31 December 2022 . Bank of Africa Uganda . 28 April 2023 . Bank of Africa Uganda . 20 February 2024 . Kampala, Uganda.
  9. Web site: Bank of Africa Uganda: Board of Directors . Bank of Africa Uganda . 20 February 2024 . Bank of Africa Uganda . 20 February 2024 . Kampala, Uganda.
  10. Web site: Uganda Gets Her First Local Woman Commercial Bank Managing Director . 26 December 2010 . David Ssempijja . 29 May 2014 . . https://web.archive.org/web/20140416192137/http://www.newvision.co.ug/D/8/220/742060 . 2014-04-16 . dead .
  11. Web site: Uganda's First Female Bank Managing Director Bows Out . 15 April 2014 . . Ismail Musa Ladu . 16 April 2014 . Kampala, Uganda . 16 April 2014 . https://web.archive.org/web/20140416210308/http://www.monitor.co.ug/Business/Uganda-s-first-female-bank-MD-bows-out/-/688322/2280884/-/6v26d0z/-/index.html . dead .
  12. Web site: Mobile Money Competition Stiffer As Bank Unveils Related Platform . . Faridah Kulabako . 28 April 2014 . 5 May 2014 . Kampala, Uganda.
  13. Web site: Bank of Africa Group . Branches of Bank of Africa Uganda Limited . October 2020 . Bank of Africa Uganda . 20 February 2024.
  14. Web site: Bank of Africa Posts USh1.2 Billion Profit Up From USh6.7 Billion Loss In 2013 . . 30 April 2015 . Jonathan Adengo . 1 May 2015 . Kampala, Uganda . 1 May 2015 . https://web.archive.org/web/20150501074158/http://www.monitor.co.ug/Business/Bank-of-Africa--posts-Shs1-2b-profit---Shs6-7b--loss/-/688322/2701320/-/6h8fyrz/-/index.html . dead .
  15. Web site: About Bank of Africa Uganda Limited . AfricaSkillz.com . 2022 . 20 February 2024.

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